The prices of Airbnb bookings are based off of the cost of a one-night's stay, while the average prices for a hotel room were determined using Hotel.com's Hotel Price Index Report, which analyzes prices based on bookings made on the site per room per night (including any taxes and fees).

It's good to note that prices are subject to change depending on the season and how close to the time of the trip the booking is made. Still, the numbers help give a sense as to where a particular booking option might be cheaper than the other.

The data shows that, in general, Airbnb could save travelers money when booking across the northern US, while hotels offer better rates in the southern part of the US.

In Europe, the average hotel costs can be as much as double the cost of Airbnb bookings.